Li-FT Offers 62% Premium to Acquire Winsome, Secures 75% of Galinée Project

Strategic Acquisition and Consolidation

Li-FT Power Ltd has unveiled plans to acquire Winsome Resources Limited in a deal structured as a scheme of arrangement under Australian law. The transaction offers Winsome shareholders 0.107 Li-FT shares for each Winsome share held, representing a significant premium of 62% over the recent closing price. This acquisition is designed to consolidate two complementary lithium portfolios, positioning the combined company as a leading player in the Canadian hard rock lithium sector.

Simultaneously, Li-FT is negotiating to acquire a 75% controlling interest in the Galinée lithium property from Azimut Exploration Inc. and SOQUEM Inc. This move aims to unlock additional value by integrating Galinée with Winsome’s adjacent Adina project in Québec, potentially expanding mineral resources and improving project economics.

Enhanced Portfolio and Market Position

Post-transaction, the combined entity will hold a diversified portfolio of lithium assets across Canada, including the Yellowknife project in the Northwest Territories and the Adina-Galinée projects in Québec. The consolidation is expected to create critical mass, improve access to capital, and attract broader institutional investor interest. Avenir Minerals, a strategic shareholder with extensive expertise in Québec mining operations, supports the transaction, adding credibility and operational insight.

The company plans a dual listing on the Toronto Stock Exchange Venture (TSXV) and the Australian Securities Exchange (ASX), broadening investor reach and liquidity. Alongside the acquisition, Li-FT intends to raise approximately C$30 million through subscription receipts to fund exploration and development activities, including a substantial 30,000-metre drilling campaign scheduled for 2026.

Development and Growth Prospects

The integration of the Adina and Galinée projects is expected to enhance resource scale and open-pit mining potential, with existing indicated and inferred resources at Adina totaling nearly 78 million tonnes at over 1.1% lithium oxide. The Galinée property, currently at the exploration stage, offers significant upside potential. Following the transaction, the company plans to update combined resource estimates and advance feasibility studies, leveraging synergies and infrastructure advantages in the James Bay region.

Leadership continuity is assured with key Winsome executives joining Li-FT’s board and advisory team, ensuring experienced oversight during the integration and development phases. The transaction remains subject to regulatory approvals, shareholder votes, and the finalization of definitive agreements, with a targeted closing in April 2026.

Risks and Forward Outlook

While the transaction promises to create a more robust lithium developer with enhanced scale and market access, uncertainties remain. The Galinée acquisition is contingent on final documentation and conditions precedent, and the overall deal depends on multiple regulatory and shareholder approvals. Market volatility, permitting challenges, and financing execution risks also persist. Nonetheless, the combined company’s strengthened asset base and capital position position it well to capitalize on growing lithium demand driven by the energy transition.